The 30-year-old is the club's longest serving player, having amassed 127 appearances in three seasons.

In 2007-08 he won the Crawley Observer Player of the Year Award and his energetic style has earned him the captain's armband for most of this season, as well as making him a firm favourite with fans.

Although no fee has exchanged hands because he was out of contract, Bulman is understood to be on a massive package at Oxford.

Reds' manager Steve Evans said: "It is disappointing as Dannie's been excellent for us. He is a superb professional and we've had a fantastic relationship.

"We just can't compete with Oxford financially who made him an offer which was fantastic in relation to Crawley Town.

"We can't go down the road of trying to compete with them or we'll end up with the club back in the dark days when it was in administration.

"No-one appreciates him more than his manager and I believe with the coaching he has had here he has played his best football of his career."

It is understood he had agreed a two-year contract at the Kassam Stadium, which regularly sees large crowds of more than 5,000.

Evans added: "One player doesn't make a team and it's our job now to find another Bulman at Crawley wages, and we're trying."

Evans has been busy in negotiations with players since the end of the season and next week expects to be able to announce his retained list of players plus some newcomers.

So far three players have been released: Santos Gaia, Gavin Hurren and Isaiah Rankin.

Four players who joined on two-year deals are staying: captain Chris Giles, Jamie Cook, Michael Malcolm and goalkeeper Simon Rayner.

Three more are remaining because they are under-24s, unless compensation is paid by another club. They are: Sam Rents, Jake Wright and Glenn Wilson.

What do you think about Bulman's departure? Will you be sad to see him go? Contact the sportsdesk by calling 01293 845054 or email by clicking here.